Palo Alto Networks to acquire IoT cybersecurity company Zingbox
Palo Alto Networks acquisition of Zingbox : US cybersecurity company Palo Alto Networks has agreed to acquire IoT cybersecurity company Zingbox for $75 million in an all-cash deal.
Using advanced AI and machine learning technologies, Zingbox’s cloud-based service discover, identify, secure and optimize IoT devices, and helps businesses realize the full potential of their connected devices.
Palo Alto Networks with the addition of Zingbox will speed up IoT security delivery through its Next-Generation Firewall and Cortex platforms.
Commenting on Palo Alto Networks acquisition of Zingbox, Nikesh Arora – chairman and CEO of Palo Alto Networks, said: “The proliferation of IoT devices in enterprises has left customers facing an enormous gap in protection against cybersecurity attacks. With Zingbox’s IoT capabilities, we will provide a first-of-its-kind subscription for our Next-Generation Firewall and Cortex platforms that gives customers the ability to gain control, visibility, and security of their connected devices at scale.”
Zingbox’s co-founders, Xu Zou, Jianlin Zeng, and May Wang, will join Palo Alto Networks upon completion of the deal. The current products of the IoT cybersecurity company will continue to be available to customers post-acquisition.
Xu Zou – CEO of Zingbox, commenting on Palo Alto Networks acquisition of Zingbox, said: “Our vision has always been to ensure that organizations realize the full benefits of IoT devices without sacrificing security. By joining forces with Palo Alto Networks, we will be able to secure connected devices at scale to help organizations embrace digital transformation.”